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Amphion to hold off from reducing stake in Motif until January 2018 after latest share sale

Published: 17:27 25 Sep 2017 AEST

Dollar bills
Up to June 2017, Amphion had drawn down US$6.15mln under the facility, using certain assets of Amphion as collateral

Companies-backer Amphion Innovations Plc (LON:AMP) has sold 4.39mln shares in partner company Motif Bio Plc (LON:MTFB) to partially pay off a loan facility.

Following the sale, Amphion’s stake in Motif Bio stands at 14.1%. Amphion said it will now hold off selling Motif Bio shares until January 15 next year.

READ: Amphion Innovations optimistic for Motif Bio and Polarean

There is still US$4.3mln head-room on the loan facility. The company confirmed it is in negotiations regarding alternative longer term financing strategies.

Shares in Amphion rose 10% on the news.

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on 10/10/17